Yingli Drops After Third-Quarter Loss Exceeds Estimates

Yingli’s American depository receipts dropped 11 percent to
$6.20 at the close in New York, the most since Oct. 25. Each ADR
is worth one ordinary share.

The company reported a net loss of $38.5 million in the
third quarter, or 25 cents an ADR, compared with a loss of $153
million, or 98 cents, a year earlier, Baoding, China-based
Yingli said today in a statement. Excluding some expenses
including inventory provisions and amortization of some
intangible assets, the 24-cent loss exceeded the 22-cent average
of five analysts’ estimates compiled by Bloomberg.

Yingli reaffirmed its 2013 panel-shipment forecast of 3.2
gigawatts to 3.3 gigawatts, a gain of as much as 44 percent from
last year, citing growing demand in China, the U.S. and Japan.